Financial Crisis Layoffs
You are glued to the news media. Bear Stearns and Lehman Brothers collapsed, WAMU and Merril Lynch were bought up, the government had to bail out AIG and Goldman Sachs and Morgan Stanley converted to commercial banks. Credit is drying up, banks and corporations are failing. We may be in for a severe recession or a depression. Unemployment is rising and you may be laid off after your dedicated service.
Your employer gives you a severance agreement, and asks you to sign away your rights because of the financial crisis, the recession or the depression.
You should have a New York City employment review the agreement and the circumstances of your separation from your job. You may have vested benefits that need to be preserved, and you may have been unfairly selected in a discriminatory manner or illegal manner. You have a right to keep your vested pension benefits and are entitled to continued medical coverage under your employer’s health or medical plan as required by COBRA. You may also have certain protections under the Worker Adjustment and Retraining Notification Act (WARN) to get sufficient notification of any layoff in this financial crisis and recession.
In our 25 years of experience in employment, we have helped many employees who have been illegally been selected for a lay off or reduction in force. In the current financial crisis, it is critical that you get good advice to protect your rights.
Contact us online or call us at (212) 949-1001 for a free initial consultation today to see whether your rights have been violated in connection with a lay off or reduction in force.